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Put me to Sleep On a somewhat unremarkable day in the market, including our own VHC shares, there exists a somewhat remarkable story that was told today in the VHC option pits: Puts! Everywhere Puts Puts! The evidence: 477 July $4 Puts traded at $0.10 during the day 100 Aug $3 Puts traded at $0.09 during the day. 208 Aug $4 Puts traded at $0.30 during the day 33 Dec $4 Puts traded at $0.75 during the day 74 Jan $4 Puts traded at $0.80 during the day What's remarkable about all that? Well, all of the trades went off at the ask, indicating they were all bought. What is not known is whether these trades were "buy to open" or "buy to close", since the volume for each strike was less than the open interest (OI). And when the OI is updated to include today's trades, then we will know what kind of buys these were. Happy July 4th! |
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